Comments on: How to Stay Out of Debt http://moneyning.com/debt/how-to-stay-out-of-debt/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Fri, 19 Mar 2010 02:45:21 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Gary http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-21731 Gary Mon, 23 Nov 2009 00:51:17 +0000 http://moneyning.com/?p=3708#comment-21731 Thicken My Wallet, Yes, it's possible to be debt free in this day and age. Just like it's possible to be a non-smoker and in great shape in this day and age. But, you will be in the minority and will need to live a different (and better) lifestyle. You think debt is neither bad nor good? How much debt are you carrying and how much interest do you pay each month? You don't control debt my friend. Debt controls you. Gary Sydney, Australia Thicken My Wallet,

Yes, it’s possible to be debt free in this day and age. Just like it’s possible to be a non-smoker and in great shape in this day and age.

But, you will be in the minority and will need to live a different (and better) lifestyle.

You think debt is neither bad nor good? How much debt are you carrying and how much interest do you pay each month?

You don’t control debt my friend. Debt controls you.

Gary
Sydney, Australia

]]> By: Donavon http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19614 Donavon Wed, 16 Sep 2009 19:02:40 +0000 http://moneyning.com/?p=3708#comment-19614 Try to lend people money and charge them on minimal interest. When they don't pay or ask for grace period, what will you do next ? Try to lend people money and charge them on minimal interest. When they don’t pay or ask for grace period, what will you do next ?

]]> By: Donavon http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19613 Donavon Wed, 16 Sep 2009 18:58:04 +0000 http://moneyning.com/?p=3708#comment-19613 I agree with you on Discipline.. the key answer to all successes.... without which is the fall of all empires...... It is such a simple word but so difficult work with. In the end..... it is discipline that teach us so much... I agree with you on Discipline.. the key answer to all successes…. without which is the fall of all empires…… It is such a simple word but so difficult work with.

In the end….. it is discipline that teach us so much…

]]> By: Donavon http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19612 Donavon Wed, 16 Sep 2009 18:50:25 +0000 http://moneyning.com/?p=3708#comment-19612 It really is a matter of seeing your finance figure and the state of mind you are in. It took me a family squabble to see that your money is really your responsibility no matter how much you need to save or spend. Being in debt means "You actually can't afford it!" that's why you borrow other people's money to buy. So banks tell you it's healthy ( for them it's healthy to lend people money because they earn double when you pay back ). For you it is definitely not healthy. Here is how I got myself out.......... "Squeeze everything I have to go debt free" I'm lucky to have a mentor who has total discipline on life. Everything from Life to Work. I calculated over and over again until I could find no other areas that need spending in the near future. Then minus the expenditures that I have listed out. Hell !!!!! There is no room for paying back borrowed money. And that means when I borrow there is no means of paying back. So why borrow and dig your own grave ? Credit Cards? hmmmm.......... done that ..... when you don't have enough to pay back, you don't even have any to save. And that actually means ???? It's how you see that changes how you monitor your money. Fairly simple. " Ah... but you don't understand ...... " Really ? Who doesn't understand ? It really is a matter of seeing your finance figure and the state of mind you are in.

It took me a family squabble to see that your money is really your responsibility no matter how much you need to save or spend. Being in debt means “You actually can’t afford it!” that’s why you borrow other people’s money to buy.

So banks tell you it’s healthy ( for them it’s healthy to lend people money because they earn double when you pay back ).

For you it is definitely not healthy.

Here is how I got myself out……….
“Squeeze everything I have to go debt free”

I’m lucky to have a mentor who has total discipline on life.
Everything from Life to Work.

I calculated over and over again until I could find no other areas that need spending in the near future. Then minus the expenditures that I have listed out.
Hell !!!!! There is no room for paying back borrowed money. And that means when I borrow there is no means of paying back. So why borrow and dig your own grave ?

Credit Cards? hmmmm………. done that ….. when you don’t have enough to pay back, you don’t even have any to save. And that actually means ????
It’s how you see that changes how you monitor your money. Fairly simple.
” Ah… but you don’t understand …… ” Really ? Who doesn’t understand ?

]]> By: Wilson Pon http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19500 Wilson Pon Mon, 14 Sep 2009 05:38:08 +0000 http://moneyning.com/?p=3708#comment-19500 I used to be in the situation, where I owed over ten grands of debts, Ning. Honestly, it's a very tough life and after I've free from the debt, I don't want to look back on it anymore...! I used to be in the situation, where I owed over ten grands of debts, Ning. Honestly, it’s a very tough life and after I’ve free from the debt, I don’t want to look back on it anymore…!

]]> By: Greg@eliminatethemuda.com http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19479 Greg@eliminatethemuda.com Sun, 13 Sep 2009 13:57:27 +0000 http://moneyning.com/?p=3708#comment-19479 What keeps me motivated is not the pains of the past but the prospect of the future. Several years ago I saw a PBS special titled Can You Afford To Retire, this really made me think about my future and how I am possibly going to manage. The evidence is clear that Social Security will not be there. Events of the last few decades show that pension promises are easily broken when companies go out of business (United Airlines and GM to name a couple!). I don't want to be a burden on society or my kids, so if no one else is going to provide for my retirement than I must. What keeps me motivated is not the pains of the past but the prospect of the future. Several years ago I saw a PBS special titled Can You Afford To Retire, this really made me think about my future and how I am possibly going to manage.

The evidence is clear that Social Security will not be there. Events of the last few decades show that pension promises are easily broken when companies go out of business (United Airlines and GM to name a couple!).

I don’t want to be a burden on society or my kids, so if no one else is going to provide for my retirement than I must.

]]> By: Financial Samurai http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19456 Financial Samurai Sat, 12 Sep 2009 05:41:58 +0000 http://moneyning.com/?p=3708#comment-19456 All I can say is, THANK GOODNESS for return policies! Every time I buy something, I sit on it for at least a week before really deciding to buy. In the meantime, I stare at my mounting CC bill and it often helps me return the item. All I can say is, THANK GOODNESS for return policies! Every time I buy something, I sit on it for at least a week before really deciding to buy. In the meantime, I stare at my mounting CC bill and it often helps me return the item.

]]> By: Jessica http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19422 Jessica Fri, 11 Sep 2009 11:23:50 +0000 http://moneyning.com/?p=3708#comment-19422 The best way to stay out of debt is to use your credit cards minimally-this is especially true for people who do not have much control over their spending habits. You could also approach the person whom you owe money to, be it a bank or your friend, and find out if there is any way you can make smaller payments over an extended period. This will prevent you from borrowing from Paul to pay Peter. The best way to stay out of debt is to use your credit cards minimally-this is especially true for people who do not have much control over their spending habits. You could also approach the person whom you owe money to, be it a bank or your friend, and find out if there is any way you can make smaller payments over an extended period. This will prevent you from borrowing from Paul to pay Peter.

]]> By: Lee http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19406 Lee Fri, 11 Sep 2009 01:08:17 +0000 http://moneyning.com/?p=3708#comment-19406 This rung a bell with me. Two weeks ago I wrote a post titled "Is Debt Worth It?" (my blog is still so new I don't think anyone noticed). It touches on a lot of what you've written, and being one of those who are still in debt (but working damn hard to get out of it), you might find it interesting: http://www.fivepencepiece.com/2009/08/is-debt-worth-it-does-it-matter/ Regards, Lee This rung a bell with me. Two weeks ago I wrote a post titled “Is Debt Worth It?” (my blog is still so new I don’t think anyone noticed). It touches on a lot of what you’ve written, and being one of those who are still in debt (but working damn hard to get out of it), you might find it interesting:

http://www.fivepencepiece.com/2009/08/is-debt-worth-it-does-it-matter/

Regards,

Lee

]]> By: Jones http://moneyning.com/debt/how-to-stay-out-of-debt/comment-page-1/#comment-19405 Jones Thu, 10 Sep 2009 21:38:51 +0000 http://moneyning.com/?p=3708#comment-19405 Society has brainwashed us into thinking that debt is necessary when it’s in fact not. It should be “how I am going to get out of debt” rather than “how I am going to manage my debt”. Everyone has it misunderstood. Debt is not good no matter how you slice it. Society has brainwashed us into thinking that debt is necessary when it’s in fact not. It should be “how I am going to get out of debt” rather than “how I am going to manage my debt”.

Everyone has it misunderstood. Debt is not good no matter how you slice it.

]]>